Ceinsys Tech announced that it has received a contract for the implementation of integrated GIS enterprises from City and Industrial Development Corporation of Maharashtra (CIDCO) amounting to Rs 29.20 crore.
The contract includes various key components such as a drone survey, basemap creation, enterprise GIS development, supply of commercial off-the-shelf software (COTS) with a support period of two years, and operation and maintenance for a period of 36 months.
Additionally, Ceinsys Tech will conduct drone surveys and basemap creation for change detection as per CIDCOs directions.
The contract will last for three years, including the operation and maintenance period.
Ceinsys Tech is primarily dealing in providing Enterprise Geospatial & Engineering Services and sale of software and electricity.
The companys consolidated net profit jumped 42.3% to Rs 11.91 crore in Q1 FY25 as against Rs 8.37 crore in Q1 FY23. Net sales was at Rs 73.84 crore in Q1 FY25, registering a growth of 37.2% year on year.
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Shares of Ceinsys Tech fell 0.48% to currently trade at Rs 739 on the BSE.
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